This paper examines how 12 “major depreciations” between 1997 and 2000 affected different measures of firm performance in a sample of over 13,500 companies from around the world. Results suggest that in the year after depreciations, firms have significantly higher growth in market capitalization, but significantly lower growth in net income (when measured in local currency). Firms with greater ...

We examine how corporate transparency and financing choices differ for family and nonfamily firms in the S&P 1500 Index. While transparency on average is better for firms in the S&P 500 Index than for firms in the S&P MidCap 400 and S&P SmallCap 600 indices, the improvement is much larger for family firms. Outside the S&P 500, family firms are less transparent than their non-family counterparts...

THIS book is in two parts: a biography of Malcolm (134 pages) and a facsimile reproduction of his History of the Belfast General Hospital and the Principal Medical Institutions of the Town, first published in 1851 (by S. & G. Agnew) but long out of print and now rare. Both are wvelcome; their publication in one well-produced and comparatively inexpensive volume is particularly appropriate. Thos...

This paper develops and analyzes a model in which tax considerations and financial reporting considerations have countervailing effects on a firm’s investments in internally developed intangible assets. It also proposes and estimates a new measure of tax preferences, which we call the economic effective tax rate. This measure reflects both investments in intangible assets and the use of debt fi...

Stock return predictability is important to maintain confidence and liquidity in a stock market. The conventional theory on price behaviour, the Efficient Market Hypothesis, posits that not possible. This study considers Adaptive Hypothesis explain of returns Malaysia using financial ratios as predictor variables. gaining prominence behaviour. However, studies have been mixed limited. contribut...

This book is a positive encyclopaedia of child management from the moment of conception to the end of the nursery period. What to prepare for the confinement, care of the toddler's feet, Punishment and discipline, play and toys, baby's laundry, the toddler's spiritual development?Nurse McKay deals with all these and a host of other subjects. She combines the practical wisdom ?f the old-fashione...

This study aims to determine how the financial performance of PT. Jasa Raharja in 2017 2021. The population this is company's annual statements, while sample used statements from data collection technique by means documentation, then it will be analyzed using ratios. liquidity which consists Current Ratio, Cash Ratio and solvency ratio Debt Assets (DAR) Equity (DER) profitability Return on (ROA...

Government guarantees of private debt deplete equity. The depletion is greatest during periods when the probability of a guarantee payoff is highest. In a setting otherwise subject to Modigliani-Miller neutrality, firms issue guaranteed debt up to the limit the government permits. Declines in asset values raise debt in relation to asset values and thus deplete equity directly, under the realist...

In many ways this is an able book, and affords abundant food for thought and reflection. Some portions of the work are extremely interesting, especially those dealing with the early history of phrenology, about which the medical profession is undoubtedly too ignorant. The author has done good service in pointing out the debt we are under to Gall, the pioneer in the modern study of the anatomy a...

In this paper, we present an intensity-based common factor model that is used to analyze the valuation of common systematic risks in multi-name credit and equity markets. In particular, we use a hybrid intensity model to price single-name credit instruments such as credit default swaps (CDSs), multi-name credit derivatives such as collateralized debt obligations (CDOs), and equity index options...